State of Alaska Department of Revenue Sells 2,968 Shares of SPX Technologies, Inc. $SPXC

State of Alaska Department of Revenue trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,856 shares of the company’s stock after selling 2,968 shares during the period. State of Alaska Department of Revenue’s holdings in SPX Technologies were worth $4,642,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPXC. Royal Bank of Canada raised its position in SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after purchasing an additional 2,892 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock worth $2,670,000 after acquiring an additional 8,854 shares during the last quarter. Millennium Management LLC lifted its holdings in SPX Technologies by 214.4% during the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock worth $10,725,000 after buying an additional 56,799 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of SPX Technologies by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after purchasing an additional 3,353 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPXC. Truist Financial increased their price target on shares of SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Wall Street Zen raised SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Cowen restated a “hold” rating on shares of SPX Technologies in a research note on Tuesday, January 6th. Bank of America assumed coverage on shares of SPX Technologies in a report on Wednesday, October 8th. They issued a “neutral” rating and a $202.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and issued a $244.00 price objective (up from $225.00) on shares of SPX Technologies in a report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $214.14.

Insiders Place Their Bets

In other news, insider John William Swann III sold 38,755 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the transaction, the insider owned 64,266 shares of the company’s stock, valued at approximately $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider J Randall Data sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $215.37, for a total value of $2,584,440.00. Following the completion of the transaction, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This represents a 23.99% decrease in their position. The SEC filing for this sale provides additional information. 3.32% of the stock is currently owned by insiders.

SPX Technologies Trading Down 0.0%

Shares of SPX Technologies stock opened at $207.35 on Monday. The company has a quick ratio of 1.70, a current ratio of 2.47 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 12-month low of $115.00 and a 12-month high of $233.71. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.74 and a beta of 1.33. The firm’s 50-day moving average price is $210.95 and its two-hundred day moving average price is $194.55.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.24. The company had revenue of $592.80 million during the quarter, compared to the consensus estimate of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 EPS. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, analysts forecast that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.